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17.01.2020
News

Token Swap Report

In this announcement, the Credits team would like to share the current results of the process of exchanging ERC20 tokens to native CS coins, to discuss the types of swaps, and the next steps of user funds migration to the Credits protocol.

Exchange-based Swap 

The swap through the Kucoin exchange took place on December 20th-23rd and was successfully completed within the 4th quarter of 2019 in accordance with the project roadmap. Users had to deposit funds before 20th December in order to automatically exchange their CS ERC20 tokens for CS native coins.
Currently, Kucoin has already integrated the Credits protocol and users can freely trade their CS coins. The deposit and withdrawal of funds on Kucoin are only possible using Credits based wallets. We recommend to use Web or Desktop Wallets.

Partial Token Swap

A partial Token Swap was conducted from September 1 to December 10 for members of the community who wanted to support the project and maintain the network from the very beginning.
  • Total number of participants - 83 users
  • The total number of exchanged coins - 5,958,700 CS
  • You can find a detailed report on the Partial Swap here.

Manual Token Swap

The Manual Token swap is carried out from December 20, 2019, to March 20, 2020. This opportunity for exchanging coins is provided for users who did not want to deposit their funds on the exchange. 
Users can still participate in the Manual Swap. The relevant instructions are available here. The CS coins will be distributed every Friday. The last distribution date is March 20, 2020.
  • Total number of participants – 155 users
  • The total number of coins exchanged and distributed is - 1,227,087 CS
  • You can find a detailed report about the Manual Swap and the errors made by users who did not have their coins distributed here.
For all questions about the manual swap, write to support@credits.com or to the representative of the Technical Support project on Telegram at @botstorm 

Total Swap Results


Next steps

Currently, the team is working on the integration of the Credits protocol into the BitfinexGate.io and Mercatox exchanges. The completion of the integration process is scheduled for the 1st quarter of 2020. Users will be able to exchange their CS ERC20 tokens for CS native coins automatically through these exchanges. 
We will keep you informed on the latest updates and publish more detailed information with instructions for the automatic exchange of coins for each exchange in advance.
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